ΕλληνικάCompany Formation in Bulgaria
In recent years, there has been a growing interest in entrepreneurial activity in Bulgaria. The country’s tax system, combined with low wage and insurance costs, forms the basis of a favorable environment for those wishing to establish a company and engage in business activities.
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Rights of Foreign Investors
Any foreign legal entity or individual has the right to establish a company in Bulgaria. An investor can be a resident of Bulgaria, a resident of a country within the European Union, or a resident of a country outside the European Union.
Company Formation types in Bulgaria
Through OIKONOMAKIS LAW, you can proceed with the establishment of a company in Bulgaria, choosing from one of the following types:
Additionally, the process of establishing the company can be done through authorization to our company, without the direct presence of the interested party.
- Limited Liability Company (OOD) &
Single Member Limited Liability Company (EOOD)
In both cases the minimum capital rises up to merely 2 lev (i.e. 1 €)
- Societe Anonyme – SA (AD)
Single Member Societe Anonyme (EAD)
In both cases the minimum capital share rises up to 50.000, 002 lev (i.e. 25.000, 00€)
- Investment Corporations, such as:
Banks, having a necessary capital of 10 mil. lev (i.e. 5.mil. €)
Insurance Companies, having a capital of 2 – 6 mil. lev (i.e. 1 – 3 mil. €)
The most common type of all for company formation in Bulgaria is the one regarding the formation of single member Limited Liability Company.
The Benefits of Company Formation in Bulgaria:
- The lowest costs possible in all of the EU
- Small operational cost
- Less bureaucracy during formation and management
- There is no numerus clausus in any profession (all professions are “open”) (thus, for instance, there are no preconditions or collateral costs regarding licensing of a transport company, and as a result lots of those have moved from Greece to their neighboring country)
- Multiplicity in scopes
- The management seat does not have to coincide with the statutory one
- Small cost in terms of power factors e.g. electricity for industrial purposes ranging in about 70% of the average EU cost
- Social insurance in Bulgaria (if you wish to and like any national such social insurance organization)
- All invoices issued in Bulgaria by Bulgarian entities are indoubtedely recognized and accepted by the rest of the EU countries
- Instant registration with the Chamber of Commerce Registry
- 0% tax in certain areas of the country where there are extreme unemployment numbers
- Steady banking system and branches of Greek Banks in all major Bulgarian cities, and on the other hand, branch of PRO CREDIT BANK, one of the lead banking institutions in Greece, and in particular Thessaloniki
- Simple tax system
- Low insurance obligations (110 lev per person, nearly 57, 00€)
- Low employment cost; the lowest salary in Bulgaria has been set since 01.01.2015 in 360, 00lev , I.e. almost 185, 00€
- As an EU country it enjoys the free movement of people, goods and capital while Bulgaria forms part of all sorts of development programs, and at the same they reserve the comparative advantage –at least this is what we think of this – of having its own currency